The proprietor of Wagamama has begun exploring a £300m refinancing because it seeks to scale back its borrowing prices by locking in decrease rates of interest.
Sources mentioned the transfer was a mirrored image of the corporate’s strong efficiency because it was taken personal.
In addition to Wagamama, which has turn into one in all Britain’s largest informal eating chains, TRG owns Brunning & Value, a bunch of pubs.
It offered a set of different restaurant belongings to Huge Desk, one other operator, shortly earlier than Apollo bid for the corporate.
TRG is run by Andy Hornby, the previous Gala Coral, Boots and HBOS chief.
Its sale adopted a protracted activist marketing campaign in opposition to TRG’s board.
On the time of Apollo’s bid, PizzaExpress additionally examined whether or not to make a suggestion however determined in opposition to doing so, citing “market conditions”.
TRG declined to remark.
